Indian rupee rises as regional stocks higher

The Indian rupee opened higher on Monday as local shares are expected to rise, following leads from regional stocks, raising expectations of capital flows that would support the currency.

The Indian rupee opened higher on Monday as local shares are expected to rise, following leads from regional stocks, raising expectations of capital flows that would support the currency.

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At 9:06 am, the partially convertible rupee was at 49.90/92 compared with Thursday's close of 50.00/02, its strongest close since February 25.

The market was closed on Friday for a holiday. Nifty futures traded in Singapore were up 1 percent.

Offshore one-month rates were quoting at 48.98/50.08 per dollar, slightly weaker than the onshore spot rate.